Natsteel boosts RI presence

Natsteel boosts RI presence

SINGAPORE (Dow Jones): Government-linked NatSteel Ltd. (P.NTS)
said it has invested S$3.22 million to raise its stake in two
brick companies to 65% each.

Natsteel said it is paying S$2.12 million to raise its stake
by 23 percent in Indonesia's PT Sidu Batu Bata Industri. It is
paying a further S$1.1 million to raise is stake by the same
amount in Singapore's Eastern Bricks Pte. Ltd.

"These investments will position the company to be a low-cost
producer of bricks to supply the Singapore and regional markets.
The demand for bricks in Singapore is expected to be strong as
brick manufacturing is progressively phased out in Singapore,"
Nasteel said of the investment.

These acquisitions, financed through internal sources and bank
borrowings, are not expected to have a material impact on the
earnings per share and net tangible assets per share of NatSteel
for the current year, it said.